the trend is up, market has bottomed.
- Thread starter lundy
- Start date
The Nasdaq Composite is now back at the monthly uptrend line established in 1992-1995. In October 2001 price returned to this trendline, and price coincided with the lows of 1998. A steeper monthly trendline on the Comp established 1996-1998 was breached in early 2001 with no bounce at all. Depending on the program I used, the trendline is intact on both linear and log charts. It seems this index is at an important juncture right now.
You're saying that a bottom was made last week, specifically Fri the 21st.
What has to occur this Monday to negate your prediction?
If the market closes down? Would that make your prediction flat out wrong since you were so adamant on your time frame (before or after the 20th)?
I don't know of any system that gives a buy signal without some kind of triggering. The action of Friday would trigger more sell signals than buy signals IMHO. The NDX pierced the Sept low with no bounce whatsoever. In fact, at the end of the day, it drifted down even more only to give a dead cat bounce back to resistance.
Also, since you were so clear on the day of the bottom, the 21st, don't you have a potential upside target? Was that +500 on the NDX?
Just thoughts...
What has to occur this Monday to negate your prediction?
If the market closes down? Would that make your prediction flat out wrong since you were so adamant on your time frame (before or after the 20th)?
I don't know of any system that gives a buy signal without some kind of triggering. The action of Friday would trigger more sell signals than buy signals IMHO. The NDX pierced the Sept low with no bounce whatsoever. In fact, at the end of the day, it drifted down even more only to give a dead cat bounce back to resistance.
Also, since you were so clear on the day of the bottom, the 21st, don't you have a potential upside target? Was that +500 on the NDX?
Just thoughts...
This post proves there's a lot of profitable ways to figure a trend and profit.
To borrow some darkhorse words,there are a lot of mega grizzly trends related to QQQ.
Small caps like IJS and related have been strong as a Texas LONGHORN BULL. Mostly good uptrends since September.
Some good uptrends on QQQ related last week,smaller time frames.[daytrades]
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"Better to make a little less each time but take your place at the table''-------------------------------Solomon Cohen,,Robert Koppel
To borrow some darkhorse words,there are a lot of mega grizzly trends related to QQQ.
Small caps like IJS and related have been strong as a Texas LONGHORN BULL. Mostly good uptrends since September.
Some good uptrends on QQQ related last week,smaller time frames.[daytrades]
-------------------------
"Better to make a little less each time but take your place at the table''-------------------------------Solomon Cohen,,Robert Koppel
Me too and it's killing me. I spent Thursday and Friday buying stocks I've wanted for some time - some buys as small as 30 or 50 shares but there were many right through AH on Friday when I got the willies and shorted Qs as a hedge.
Figured I'd rest easier, yeah... . I got plenty volatility in my head.:eek: